Stock Market Today: Nifty, Sensex Fall For Second Consecutive Week; HCLTech, Infosys Top Weekly Losers
The NSE Nifty IT and Nifty Banks were trading lower.
KEY HIGHLIGHTS
Nifty, Sensex Fall For Second Consecutive Week
The NSE Nifty 50 and BSE Sensex has extended its fall to the second consecutive week with HCL Technologies Ltd. and Infosys Ltd. as the top losers for the week. IT was among the worst performing with Nifty IT falling nearly 6% in the week that comprised of third quarter earnings.
Through the week Hindalco Industries Ltd., NTPC Ltd., Adani Ports and Special Economic Zone were the top gainers, while HCLTech, Infosys, Axis Bank Ltd., and Hindustan Unilever Ltd. were among the worst performers.
The NSE Nifty 50 and BSE Sensex snapped three day gaining streak on Friday to close lower ahead of Tech Mahindra Ltd. and Wipro Ltd. third quarter results. The Nifty 50 ended 108.60 points or 0.47% lower at 23,203.20, and the Sensex ended 423.49 points or 0.55% lower to 76,619.33. During the session, the Nifty 50 fell 0.91% or 211.45 points at 23,100.35. The Sensex fell 1.01% or 779.53 points lower at 76,263.29.
BPCL Ltd., Reliance Industries Ltd., Coal India Ltd., Hindalco Ltd. and Nestle Ltd. were top gainers in the Nifty 50 index on Friday.
Infosys Ltd., Axis Bank Ltd., Kotak Mahindra Bank Ltd., Shriram Finance Ltd. and Wipro Ltd. weighed on the Nifty 50 index.
BPCL Ltd., Reliance Industries Ltd., Coal India Ltd., Hindalco Ltd. and Nestle Ltd. were top gainers in the Nifty 50 index on Friday.
Infosys Ltd., Axis Bank Ltd., Kotak Mahindra Bank Ltd., Shriram Finance Ltd. and Wipro Ltd. weighed on the Nifty 50 index.
On NSE, seven of the 12 sectors closed higher on Friday with the NSE oil and gas rising the most.
Broader markets outperformed benchmark indices. The BSE Midcap and Smallcap indices ended 0.04% and 0.01%, higher, respectively.
On BSE, 15 sectors advanced and six declined out of 21. The BSE Energies rose the most, while the BSE Focused IT declined the most.
The market breadth was skewed in favour of the buyers as 2,028 stocks advanced, 1,902 declined and 129 remained unchanged on the BSE.
On a weekly basis, the NSE Nifty 50 fell 0.97%, while the BSE Sensex fell 0.98%.
This week, eight sectors declined and four advanced out of the 12. The NSE PSU Bank rose the most, and the NSE IT underperformed other sectoral indices.
Stock Market At Closing
Nifty and Sensex snap three day gaining streak to close lower.
Intraday, both Nifty and Sensex had fallen over 0.90% each.
Nifty ends 0.47% or 108.60 points down at 23,203.20.
Sensex ends 0.55% or 423.49 points lower at 76,619.33.
Broader indices were mixed. Nifty Midcap 100 ended 0.23% up; Nifty Smallcap 250 closed 0.04% lower.
Most sectoral indices rose with Nifty Oil and Gas rising the most.
BPCL and Reliance Industries were top Nifty gainers.
Infosys and Axis Bank fell the most.
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SBI Life Insurance Co Q3 Highlights (Consolidated, YoY)
Net premium income up 11.3% to Rs 24,828 crore versus Rs 22,317 crore.
Net profit up 71.2% to Rs 551 crore versus Rs 322 crore.
Solvency Ratio flat at 2.04% (QoQ).
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13th Month persistency ratio improves to 82.67% versus 82.09%.
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Ebitda up 1% to Rs 118 crore versus Rs 117 crore.
Margin at 11% versus 10.5%.
Net profit down 20% to Rs 47.7 crore versus Rs 59.4 crore.
